Hi Bitcointalk,

In response to larin. I would like to share with the community some facts about his history with btc.sx.

His accounts were locked due to exploitation to unfairly game the system for selfish profits at any cost, to us and our honest userbase. Upon discovery of this exploit, he signed up with 5 different accounts and continued using it across an additional 72 trades. This is behaviour which the community should stand against.

The attached images below show these trades.


http://postimg.org/image/rk659w9l7/full/


http://postimg.org/image/5ifuzup3f/

Through use of his exploit, in these trades he profited by 17.9 btc.

Where losses incurred costed btc.sx additional collateral, this was deducted from his profits (15.6 btc).

The funds which larin claims to be his are all profits he gained from the exploit. We have not taken a satoshi more and honoured remaining withdrawals against his account.

This is the response we sent to him:


The community should also know that larin will not stop at any cost to undermine our efforts to run a business as transparently as we can.


http://postimg.org/image/5ifuzup3f/

He is also using multiple accounts in his efforts to slander our business. As in this post, and on a number of accounts on our Facebook page and elsewhere.

Here is more information based upon the truth rather then false facts posted under multiple accounts:

http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/

http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/

larin, as a company our staff have been directed to ignore your messages due to the continued abuse you send us. The nature of your deceitful lies and continual exploitation is not what we want to deal with as a bitcoin startup and not what the community needs.

Yeah I'm going to be sticking with current members for now, it doesn't make sense to add more right now. Keep posted for updates.

Paid.

Thanks for letting me know, I do find it hard to keep track of everyones activities from time to time.

bump.

Any take on this? Those addresses seem valid to me??

Hi all,

Here are this week's payouts.



Thanks to btcton for offering some assistance with the scheme.

Have a good day.

Hive wallet FTW

Hello all!!!

Thanks for your patience, I'm a little late so forgive me.

To answer a few questions, yes, unfortunately we were tied to MtGox and as a result of their current 'dramas' we've had to suspend trading on our site.

At Btc.sx we're still going strong, although we are not taking any active trades at the moment we are very busy working on our Plan B.

Despite a stressful month, of course I will honour the payouts to my signature advertisers. Thanks for your efforts and continued support. I like the fact that we are the longest running and one of the oldest signature advertising schemes out there. I have no plans of ending this scheme any time soon. In many ways I think its a nice way to give back to members of the community who love to post here.

I'll be working through the payouts shortly and hope to have you all paid within 24 hours.



We've suspended trading yes, but by no means dead. I am very busy these days and can't check out these forums as much as I would like.

Hey W! Yesss, this deffo needs updating now haha.

Sorry Voodah, my bad. Sometimes the automated script fails to get some users post counts so I have to manually stick in the number, that copied over from last month's manual fix.

Paid.

Hi MoneyGod, sure, add the signature, and post your bitcoin address and post count.



You're also in, please add the signature, post your bitcoin address and post count.

Thanks btcton, you've been added.

itod, you're in. Thanks for your patience!

Hi Chaps,

Sorry, I won't allow selling of places. Its already hard enough for others to join and I don't want to make it unfair on people who have been waiting patiently.

If you are inactive for a while I'll reserve the right to replace anyone with a new member.

Hi all,

This months payments have been made!



A few people have mentioned that they want me to use a different exchange rate. I'm starting to lose hope in MtGox ever sorting their banking issues out so from next month I'll be considering Preev.com (thanks marcotheminer). Do thye have an api?

Also I'm gonna free up 2 slots due to inactivity:

i3lome
polrpaul

I don't have enough time to go through and find who asked first. If you see this post and have posted before, link me to your earlier post saying you wanted to join and add the siggy. You'll be included in next months pay. (You have a week to claim your spot from today).

Thanks all.

See you next payday.

Hi all,

Thanks for your patience. The first payment of this year has been made and here are the details:



The exchange rate I used was MtGox close price on 31st December 2013. That was $806.

0.45 BTC paid out which makes that just under $400 USD.

Damnsammit - Can you send me a PM with your new address or confirm if that address is ok to use... You can buy ramen for bitcoin? Where's that?

Hello all! Happy New Year! May 2014 be a fruitful year for you all, and for the world of Bitcoin.

Apologies, I am a little late. I've been incredibly busy with some exciting new changes to the site which will see a much improved service from next week. I've also welcomed on board a new employee to help with Tech Dev.

This month's payouts will be made within the next few hours. Thanks for your patience.

Eagerly waiting the announcement!

The startup crowd is generally very excited to hear about any and every bitcoin project they come across as its such a disruptive field. I've not shared much on here as I've found the younger forum members here can be very savage which tends to lead to trolling and generally unproductive criticism!

In terms of funding, as long as you can show traction you won't have any difficulties getting time in front of investors. Get into a startup space or co-working space for start-ups would be my most valuable piece of advice.

Good luck! Happy to give advice.

Yeah Voodah, I've re-added you back on the list, it just doesn't show on the screenshot above.

Yeah I was hoping people would pick up on this. It allows a more flexible commitment and is not as rigid as a weekly payout demanding an average 2 posts a day. The new scheme will still pay a portion if you make just 15 posts a month.